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All of the following are ways in which one becomes a shareholder except receiving a gift of shares that have already been issued to another

All of the following are ways in which one becomes a shareholder except

  1. receiving a gift of shares that have already been issued to another shareholder.
  2. buying shares initially issued by a corporation during its incorporation.
  3. buying shares issued by a corporation subsequent to its incorporation.
  4. purchasing shares that have already been issued to another shareholder.
  5. purchasing debentures issued by the corporation.

(Please choose one and explain the answer.)

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